The European Central Bank won’t be able to unwind its expansive monetary policy without the support of the region’s governments, said Joerg Kraemer, chief economist at Commerzbank AG.
Spain’s turn toward wage cuts to restore competitiveness without leaving the euro is starting to bear fruit. At least that’s how it seems for Pablo Garcia, a 34- year-old autoworker who just got hired after a year out of work.
Euro-area services and manufacturing output shrank for a 15th straight month in April and retail sales fell in March as the 17-nation economy struggled to emerge from recession.
When Jean-Claude Trichet retires on Oct. 31, the euro area may lose more than just a European Central Bank president.
German growth slowed less than forecast in the third quarter and the French economy unexpectedly expanded.
German economic figures show the uphill struggle Peer Steinbrueck faces to unseat Chancellor Angela Merkel in Sept. 22 elections.
Euro-area data this week will probably reveal economic scars of the sovereign debt crisis confirming that the region is now suffering the longest recession since the single currency’s creation.
Six months after Bundesbank President Axel Weber opposed the European Central Bank’s decision to start buying government bonds, the risks he warned about may be materializing.
"The latest numbers from the industrial sector are very worrisome."
- Joerg Kraemer on Oct 27, 2014
Commerzbank’s Kraemer: Surveillance